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1. Six years after Ukraine’s Euromaidan: reforms and challenges ahead

Author:
Marek Dabrowski, Marta Dominguez-Jimenez, and Georg Zachmann
Publication Date:
06-2020
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
Since the Euromaidan protests (2013-2014), Ukraine has had two presidents and four governments. In a difficult environment of external aggression, they have initiated various reforms aimed at bringing the country closer to the European Union and boosting growth. Progress has been partial and relies on international backing, with limited domestic appetite for reform.
Topic:
Corruption, Privatization, Foreign Aid, Governance, Reform, European Union, Finance, and Macroeconomics
Political Geography:
Europe and Ukraine

2. The financial fragility of European households in the time of COVID-19

Author:
Maria Demertzis, Marta Dominguez-Jimenez, and Annamaria Lusardi
Publication Date:
07-2020
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
The concept of household financial fragility emerged in the United States after the 2007-2008 financial crisis. It grew out of the need to understand whether households’ lack of capacity to face shocks could itself become a source of financial instability.
Topic:
Governance, European Union, Finance, Macroeconomics, and COVID-19
Political Geography:
Europe

3. An effective economic response to the Coronavirus in Europe

Author:
Maria Demertzis, André Sapir, Simone Tagliapietra, and Guntram B. Wolff
Publication Date:
03-2020
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
'Whatever it takes' needs to be the motto to preserve lives and reduce the impact on the economy of the epidemic.
Topic:
Governance, Economy, Central Bank, Macroeconomics, and COVID-19
Political Geography:
Europe

4. The European Union’s post-Brexit reckoning with financial markets

Author:
Rebecca Christie and Thomas Wieser
Publication Date:
05-2020
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
In the negotiations between the European Union and the United Kingdom over their future relationship, we see a high probability of a weak contractual outcome, given the dominance of politics over considerations of market efficiency.
Topic:
Markets, Governance, Europe, Brexit, Negotiation, and Macroeconomics
Political Geography:
United Kingdom and Europe

5. The European Central Bank in the COVID-19 crisis: whatever it takes, within its mandate

Author:
Gregory Claeys
Publication Date:
05-2020
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
To keep the euro-area economy afloat, the European Central Bank has put in place a large number of measures since the beginning of the COVID-19 crisis. This response has triggered fears of a future increase in inflation. However, the ECB's new measures and the resulting increase in the size of its balance sheet, even if it were to be permanent, should not restrict its ability to achieve its price-stability mandate, within its legal obligations.
Topic:
Governance, Central Bank, Macroeconomics, Judiciary, and COVID-19
Political Geography:
Europe

6. How good is the European Commission’s Just Transition Fund proposal?

Author:
Alienor Cameron, Gregory Claeys, Catarina Midoes, and Simone Tagliapietra
Publication Date:
02-2020
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
On 14 January 2020, the European Commission published its proposal for a Just Transition Mechanism, intended to provide support to territories facing serious socioeconomic challenges related to the transition towards climate neutrality. This brief provides an overview and a critical assessment of the first pillar of this Mechanism, the Just Transition Fund (JTF).
Topic:
Climate Change, Governance, Budget, European Union, Macroeconomics, Renewable Energy, and Transition
Political Geography:
Europe

7. From climate change to cyber attacks: Incipient financial-stability risks for the euro area

Author:
Zsolt Darvas, Marta Dominguez-Jimenez, and Guntram B. Wolff
Publication Date:
02-2020
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
The European Central Bank’s November 2019 Financial Stability Review highlighted the risks to growth in an environment of global uncertainty. On the whole, the ECB report is comprehensive and covers the main risks to euro-area financial stability, we highlight issues that deserve more attention.
Topic:
Governance, Finance, Central Bank, and Macroeconomics
Political Geography:
Europe

8. A post-Brexit agreement for research and innovation

Author:
Michael Leigh, Beth Thompson, and Reinhilde Veugelers
Publication Date:
01-2020
Content Type:
Special Report
Institution:
Bruegel
Abstract:
This report sets out what the Wellcome Trust and Bruegel have learned from a project to simulate a negotiation process between the UK and EU to create a post-Brexit research and innovation agreement. Our negotiating scenario assumed that the UK had left the EU with a withdrawal agreement, and that the negotiation was taking place during a ‘standstill’ transition period.
Topic:
Treaties and Agreements, Governance, European Union, Research, Brexit, Macroeconomics, Innovation, and Transition
Political Geography:
United Kingdom and Europe

9. Market versus policy Europeanisation: has an imbalance grown over time?

Author:
Leonardo Cadamuro and Francesco Papadia
Publication Date:
01-2020
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
This Policy Contribution tests the hypothesis that an imbalance has grown in Europe over the last few decades because markets have integrated to a greater extent than European-level policymaking, potentially creating difficulties for the democratic process in managing the economy. This hypothesis has been put forward by several authors but not so far tested empirically.
Topic:
Markets, Governance, Democracy, Regional Integration, Macroeconomics, and Trade Policy
Political Geography:
Europe

10. Can EU competition law address market distortions caused by state-controlled enterprises?

Author:
Matthew Heim
Publication Date:
12-2019
Content Type:
Policy Brief
Institution:
Bruegel
Abstract:
This Policy Contribution considers whether European competition law could be applied more directly to state owned enterprises that create an unlevel playing field in Europe due to the support they receive from their home governments. This issue is now a priority for many Member States and the European Commission given the impact on European economic autonomy. Competition law may not be the appropriate tool for addressing the granting of illegal subsidies or other forms of support in third countries but it may be more effective than previously thought in dealing with the effect of state-owned entities that distort the internal market. If SOEs are not be resource-constrained or even profit maximising, such SOEs could be unconstrained by competitive pressures and therefore possess a de facto level of market power. By evolving existing exclusionary antitrust theories of harm, such as predatory pricing, to fit the specificities of SOEs, this Policy Contribution argues that it should be possible to add further tools to the EU’s toolbox. In any event, as part of its efforts to address the distortive effects of foreign state ownership and subsidies in the internal market, the Commission should develop a coherent and proactive competition policy to provide guidance to the market.
Topic:
Markets, Governance, Macroeconomics, and Strategic Competition
Political Geography:
Europe